Press Release

Middle East Commercial Vehicle Market, Led by Buses, to Surpass $ 8 Billion by 2023

Growing logistics and tourism sectors coupled with increasing construction and infrastructure activities to propel Middle East commercial vehicle market through 2023

According to TechSci Research report, Middle East Commercial Vehicle Market By Country, By Vehicle Type, Competition Forecast & Opportunities, 2013 – 2023, the region’s commercial vehicle market is projected to cross $ 8 billion by 2023 on account of growing construction activities across various Middle East countries and rising demand for commercial vehicles from various applications such as mining field, logistics, school and staff transportation. Moreover, governments of various countries are focusing on promoting tourism, which is likely to propel demand for luxury buses and other commercial vehicles as well, in the coming years. Furthermore, e-commerce sector is witnessing a rapid growth across the Middle East region, which would subsequently push demand for trucks for logistics purpose, thereby driving Middle East commercial vehicle market.

Browse 66 market data Tables and 179 Figures spread through 262 Pages and an in-depth TOC on "Middle East Commercial Vehicle Market"

https://www.techsciresearch.com/report/middle-east-commercial-vehicle-market/3463.html

 

Some of the major players operating in the Middle East commercial vehicle market include Toyota Motors Corporation, Mitsubishi Fuso Truck and Bus Corporation, Isuzu Motors Middle East FZE, etc. On the basis of vehicle type, Middle East commercial vehicle market is segmented into bus, heavy commercial vehicle and medium commercial vehicle. In 2017, bus segment dominated the market, followed by medium commercial vehicle and heavy commercial vehicle segments. The bus segment is likely to maintain its dominance during forecast period as well owing to rising demand for buses for school and staff transportation.

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Saudi Arabia accounts for the largest share in the Middle East commercial vehicle market, followed by the UAE. Major factors driving demand for commercial vehicles in Saudi Arabia are rising construction projects, increasing tourism and presence of major pilgrimage destinations in the country. “Increasing demand for buses for public transport is positively influencing Middle East commercial vehicle market. Moreover, increasing focus of various governments of Middle East region on infrastructure development is further likely to push demand for commercial vehicles across the region in the coming years. Rising inclination towards electric buses is also expected to steer growth in Middle East commercial vehicle market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Middle East Commercial Vehicle Market By Country, By Vehicle Type, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of commercial vehicle market in Middle East, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the Middle East commercial vehicle market.

 

 

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Middle East Commercial Vehicle Market By Country (Saudi Arabia, UAE, Oman, Kuwait, Qatar, Jordan and Lebanon), By Vehicle Type (Bus, Medium Commercial Vehicle and Heavy Commercial Vehicle), Competition Forecast & Opportunities, 2013 – 2023

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Growing logistics and tourism sectors coupled with increasing construction and infrastructure activities to propel Middle East commercial vehicle market through 2023

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